“We are very optimistic on Brazil and other emerging economies,” Ahmad al-Sayed said on the sidelines of a conference.

Qatar’s sovereign wealth fund, like most Gulf funds, has traditionally preferred investing in Western markets, picking up stakes in companies ranging from carmakers to banks.

In recent years, though, the Gulf funds have increasingly spoken of diversifying the geographical spread of their investments by looking to Asia and other emerging markets.
(Reporting by Regan Doherty; Writing by Sitaraman Shankar)